Sound Point Meridian Capital, Inc. (NYSE:SPMC – Get Free Report) announced a monthly dividend on Thursday, November 12th. Investors of record on Tuesday, February 16th will be paid a dividend of $0.13 per share on Friday, February 26th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 24.9%. The ex-dividend date of this dividend is Tuesday, February 16th.
Sound Point Meridian Capital Stock Up 6.2%
SPMC stock opened at $6.26 on Friday. The company has a 50-day simple moving average of $7.58 and a 200 day simple moving average of $9.70. The company has a market capitalization of $128.43 million, a P/E ratio of -1.08 and a beta of 1.39. Sound Point Meridian Capital has a fifty-two week low of $5.43 and a fifty-two week high of $16.67.
Sound Point Meridian Capital (NYSE:SPMC – Get Free Report) last released its earnings results on Thursday, November 12th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.01). The business had revenue of $12.82 million for the quarter, compared to analysts’ expectations of $13.17 million. Equities analysts anticipate that Sound Point Meridian Capital will post 1.11 EPS for the current year.
About Sound Point Meridian Capital
Sound Point Meridian Capital, Inc. is a publicly traded investment company focused on collateralized loan obligations (CLOs). It invests primarily in CLO equity and debt securities, which provide exposure to portfolios of corporate loans. Through these investments, the company participates in the financing of businesses whose loans are held in CLO portfolios. Its investment approach centers on selecting CLO securities rather than directly originating loans to companies. Sound Point Meridian Capital is externally managed by an affiliate of Sound Point Capital Management, a credit-focused investment manager.
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